Who is the wealthiest person in Texas? Forbes releases new list.

Editor's Note: This story has been updated to correct the estimated total worth of the 54 people on Forbes' list.

(NEXSTAR) — While many Americans may be struggling to stay in the "new" middle class, others are seemingly profiting from stocks, fast-food chains and past ventures.

Nearly every U.S. state has at least one billionaire, according to Forbes' latest report on the richest people. This is the second time Forbes has produced this list since 2019.

As of May 2024, only three states are without a billionaire, the report found, including Alaska, Delaware, and West Virginia. Forbes explained last year that West Virginia Gov. Jim Justice once had billionaire status but lost it due to heavy debts in the early 2020s.

Overall, the 54 people who made Forbes' list (some tied for the wealthiest resident in their state) are worth $1.6 trillion. That's up $100 billion from 2023's report.

Also new this year, some states have lost their richest person. That includes Washington, which saw Jeff Bezos relocate to Florida in recent months. Bezos' departure cleared the way for Microsoft co-founder Bill Gates to rank as the wealthiest Washington state resident.

Tesla's (and Texas') Elon Musk maintained his rank at the top of Forbes' list overall, sporting an estimated net worth of $195 billion. Bezos isn't far behind at $194 billion. Rounding out the top five are California's Mark Zuckerberg, Nebraska's Warren Buffett and Washington's Gates.

The interactive table below shows the wealthiest person in each state, their state of residence, their estimated worth in billions, and their estimated net worth Forbes listed in 2023 (if applicable).

There are some newcomers to the list. Among those, Forbes highlights Todd Graves, the founder and CEO of the Raising Cane's fast-food chain. He surpassed Gayle Benson, owner of the New Orleans Saints and Pelicans, as Louisiana's wealthiest resident.

Also profiting from fast food is Georgia's Cathy family — Dan and his children, Bubba and Trudy Cathy — of Chick-fil-A fame. Jim Walton, the youngest son of Walmart founder Sam Walton, ranks as the wealthiest Arkansas resident, while his nephew, Lukas Walton, is the wealthiest Illinois resident.

In eight states, the richest person is a woman, according to Forbes. The wealthiest among them is Virginia's Jacqueline Mars, granddaughter of Frank C. Mars, the founder of the Mars candy company. With an estimated net worth of $38.5 billion, Mars falls just behind Oregon's Phil Knight of Nike by $2.4 billion.

If you're hoping to land on Forbes' list of wealthiest people, you may want to consider moving to Alaska. Leonard Hyde and Jonathan Rubini of JL Properties are tied as the richest residents — both have an estimated worth of $400 million, Forbes reports.